Rent the runway is an online company that deals with designer dresses and accessory rentals. The company was formed by Jennifer Hyman and Jennifer Flies. Two Harvard business school section mates who came together to launch the company back in November 2009.
The company was inspired by people’s need to use certain high-end designer clothing and accessories without necessarily owning them and hence Hyman and Fleiss saw the potential of the concept as well as its prospective contribution to the access economy and decided to test it out with customers.
Rent the runway has had numerous investors over the years, ranging from the likes of Bain Capital Ventures to Highland Capital including many others. The company has over 6 million member’s, 975 employees and over 400 designer partners. The company has received a lot of rewards and honors over the years.
How To Use Rent The Runway
The simple steps to using rent the runway are listed and explained below;
- Renting the designer piece:
. Rent the runway has numerous clothing, dresses, and accessories categorized by date, size, occasion and more to meet everyone’s taste. They have over 300 designer labels giving the customer access to even the most exclusive of looks.
Customers can rent by visiting the company website www.renttherunway.com or by using the rent the runway app. One can also rent directly from any rent the runway store were you’ll be allowed to try on dresses and rent immediately or on a future date.
- Finding the best fit:
Dress rentals include a backup size without extra cost. Customers can also get another dress style with their order for an additional $32.50. Every dress has customer reviews (with pictures), so customers can see how the dresses look on real women. Rent the Runway also offers styling advice if needed.
- Choose a time span:
. Customers can rent designer dresses and accessories for a 4 or 8 day period. You can choose 4 days for a weekend event or 8 days for a vacation. Customers decide when the dresses or accessories arrive.
. The company provides customers with a pre-paid, pre-addressed package to return the dresses. It also offers a $5 insurance fee to guard against any form of mishap. Dry cleaning and garment care are included in garment prices.
Rent the runway unlimited
This is basically a subscription plan that gives customers access to designer clothes and accessories for a monthly fee of $139. With the unlimited subscription, customers can choose 3 pieces on the website, app or store and keep those items for as long as they want or swap any or all of them out for new selections. Shipping, dry cleaning, and insurance are included in the subscription fee.
Benefits of rent the runway
Rent the runway is beneficial because it gives people access to luxury clothing and accessories without the financial commitment of ownership. It is an innovative and thriving fashion company that’s greatly influencing the fashion industry.